Wahed Invest LLC Acquires 292 Shares of First Solar, Inc. (NASDAQ:FSLR)

Wahed Invest LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 16.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,103 shares of the solar cell manufacturer’s stock after purchasing an additional 292 shares during the quarter. Wahed Invest LLC’s holdings in First Solar were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of First Solar in the 4th quarter worth about $27,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar in the 4th quarter worth about $29,000. Riverview Trust Co purchased a new position in shares of First Solar in the 1st quarter worth about $32,000. Finally, Rakuten Securities Inc. purchased a new position in shares of First Solar in the 4th quarter worth about $34,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $190.48, for a total value of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,153 shares of company stock valued at $12,540,428. 0.58% of the stock is currently owned by company insiders.

First Solar Price Performance

NASDAQ FSLR traded down $5.46 on Friday, reaching $213.05. 2,719,219 shares of the company’s stock traded hands, compared to its average volume of 2,544,536. The stock has a market cap of $22.81 billion, a PE ratio of 22.64, a P/E/G ratio of 0.28 and a beta of 1.44. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The stock has a 50-day simple moving average of $246.34 and a 200 day simple moving average of $194.21.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 18.15% and a net margin of 31.98%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 earnings per share. As a group, research analysts predict that First Solar, Inc. will post 13.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $187.00 to $250.00 in a report on Friday, April 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 price objective on shares of First Solar in a report on Wednesday. Guggenheim dropped their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Barclays increased their price target on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $275.58.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.